AWS Up 39% YoY, Intel AI Up 78% YoY
U.S. tech giants reported Q3 2026 earnings, putting the question of whether artificial intelligence demand is cooling back in the market spotlight. A user on PTT posted under the title "Have AI negatives cleared? Can Taiwan stocks hit new highs again?", saying that judging from Amazon's and Intel's earnings, AI-related businesses maintained strong growth, questioning whether the market is overly worried about slowing AI demand, and wondering whether Taiwan's AI supply chain could benefit. Amazon's cloud computing service AWS posted Q3 revenue up 39% YoY, the fastest growth in nearly 5 years, with full-year capital expenditure estimated at US$220 billion, indicating continued expansion in AI infrastructure. In addition, Intel's Q3 data center and AI division revenue rose 78% YoY, reflecting continued growth momentum in related market demand.
Weak Traditional Businesses Do Not Mean Weaker AI
The original poster further said that weak performance in traditional businesses does not mean AI demand weakened in tandem. Taking Amazon's e-commerce business and Intel's PC-related business as examples, although each faces different challenges, demand for AI cloud services, data centers and related chips remains strong, and the two should not be conflated. Therefore, the original poster believes that judging from the earnings of the two tech giants, the AI industry shows no clear sign of cooling yet, which should not be a negative for Taiwan's AI supply chain, and further wondered whether Taiwan stocks have a chance to hit new highs, finally asking whether his leveraged 2x ETF holdings could profit from this, triggering discussion among users.
Users Split on Outlook, Debate Whether Taiwan Stocks Can Hit New Highs
After the post went viral, many users remained cautious, commenting "definitely not cleared, but Taiwan stocks will surely rise", "wait until margin positions are cleared first", "cleared negatives means so bad it can't fall further", "you need a big drop to call it cleared, without a big drop what is cleared", "by the time you see earnings blow up the stock price has already surged long ago", "leveraged speculators should act within their means, it's still not too late to turn back", "the bubble burst, this is just the beginning", believing the consolidation is not over and leveraged trading should be carefully evaluated with investment risks borne by oneself.
However, some users were positive on the outlook, saying "one of AI's big problems now is insufficient memory, even Musk has named memory stocks", "they increase investment because they are optimistic about the future, holding piles of cash is the risk", "the most undervalued is the memory market, it will be vindicated", "after the U.S. election they will get ready to hype AI growth", "AI is just getting started, but stock prices will naturally pull back, if they don't find reasons to pull back what would Wall Street earn", remaining bullish on long-term memory and AI demand and viewing short-term pullbacks as normal.